- James Barrese, PayPal's (NASDAQ:PYPL) CTO since 2012, will be resigning on April 1. He'll remain an employee for "a brief transition period." (8-K filing)
- Sri Shivananda, PayPal's VP of Global Platform & Infrastructure, will replace Barrese as CTO. William Ready, the company's Global Head of Product & Engineering, will take over the "payment services functions" currently handled by Barrese.
- The change in R&D leadership comes as PayPal continues overhauling its online and mobile payments offerings amid competition from the likes of Stripe, Square, Apple, and Amazon.